As to (iii) and (iv), counsel for the defendant argues that the alleged oral contract would in any event not be enforceable: the plaintiffs did not plead any consideration for the agreement, and did not specify its material terms, notably the price at which the property is to be re-conveyed. For his submission that the failure to specifically plead the consideration for the oral contract is fatal, counsel for the defendant relies on McPherson v. L’Hirondelle, 1927 CanLII 48 (SCC), [1927] S.C.R. 429. For his submission that the plaintiffs must plead the essential terms of the contract, counsel for the plaintiff relies on Hunters Square Developments, supra.
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